Enbridge Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Enbridge Inc reported revenue of $65.2B (+21.9% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total operating revenues (Note 4) | $65.2B | $53.5B | $43.6B | $53.3B |
| Commodity costs and Gas distribution costs | $38.0B | $29.0B | $21.4B | $32.6B |
| Operating and administrative | $10.0B | $9.4B | $8.6B | $8.2B |
| Depreciation and amortization | $5.7B | $5.2B | $4.6B | $4.3B |
| Impairment of long-lived assets | $570.0M | $190.0M | $419.0M | $541.0M |
| Total operating expenses | $54.2B | $43.8B | $35.0B | $48.1B |
| Operating income | $11.0B | $9.6B | $8.7B | $5.2B |
| Income from equity investments (Note 13) | $2.2B | $2.3B | $1.8B | $2.1B |
| Gain on disposition of equity investments (Note 13) | $0 | $1.1B | $0 | $1.1B |
| Other income/(expense) (Note 27) | $1.6B | ($1.3B) | $1.2B | ($589.0M) |
| Interest expense (Note 17) | ($5.0B) | ($4.4B) | ($3.8B) | — |
| Earnings before income taxes | $9.8B | $7.3B | $7.9B | $4.5B |
| Income tax expense (Note 24) | ($2.0B) | ($1.7B) | ($1.8B) | ($1.6B) |
| Earnings | $7.8B | $5.6B | $6.1B | $2.9B |
| (Earnings)/loss attributable to noncontrolling interests and redeemable noncontrolling interest | ($298.0M) | — | — | — |
| Earnings attributable to controlling interests | $7.5B | $5.4B | $6.2B | $3.0B |
| Preference share dividends | ($419.0M) | ($388.0M) | ($352.0M) | ($414.0M) |
| Earnings attributable to common shareholders | $7.1B | $5.1B | $5.8B | $2.6B |
| Earnings per common share attributable to common shareholders (Note 6) | $3.23 | $2.34 | $2.84 | $1.28 |
| Diluted earnings per common share attributable to common shareholders (Note 6) | $3.22 | $2.34 | $2.84 | $1.28 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Total operating revenues (Note 3) | $29.3B | $22.4B | $14.6B | $14.9B |
| Commodity costs and Gas distribution costs | $22.6B | $15.1B | $8.5B | $8.6B |
| Operating and administrative | $2.4B | $2.6B | $2.5B | $2.3B |
| Depreciation and amortization | $1.4B | $1.4B | $1.4B | $1.4B |
| Impairment of long-lived assets | $0 | — | $0 | $330.0M |
| Total operating expenses | $26.4B | $19.1B | $12.4B | $12.6B |
| Operating income | $2.9B | $3.2B | $2.3B | $2.3B |
| Income from equity investments | $532.0M | $541.0M | $451.0M | $510.0M |
| Other income/(expense) (Note 10) | ($35.0M) | ($179.0M) | ($297.0M) | $1.4B |
| Interest expense | ($1.4B) | ($1.2B) | ($1.3B) | ($1.2B) |
| Earnings before income taxes | $2.0B | $2.4B | $1.2B | $3.0B |
| Income tax expense | ($442.0M) | ($587.0M) | ($316.0M) | ($666.0M) |
| Earnings | $1.6B | $1.8B | $847.0M | $2.3B |
| Earnings attributable to noncontrolling interests and redeemable noncontrolling interest | ($69.0M) | $0 | ($59.0M) | — |
| Earnings attributable to controlling interests | $1.5B | $1.8B | $788.0M | $2.3B |
| Preference share dividends | ($105.0M) | ($107.0M) | ($106.0M) | ($102.0M) |
| Earnings attributable to common shareholders | $1.4B | $1.7B | $682.0M | $2.2B |
| Earnings per common share attributable to common shareholders (Note 5) | $0.64 | $0.77 | $0.30 | $1.00 |
| Diluted earnings per common share attributable to common shareholders (Note 5) | $0.64 | $0.76 | $0.30 | $1.00 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $1.1B | $1.8B | $5.9B | $861.0M |
| Restricted cash | $83.0M | $92.0M | $84.0M | $46.0M |
| Trade receivables and unbilled revenues | $7.1B | $6.9B | $4.4B | — |
| Other current assets (Note 9) | $3.2B | $2.8B | $2.4B | — |
| Accounts receivable from affiliates | $86.0M | $90.0M | $85.0M | $114.0M |
| Inventory (Note 10) | $1.6B | $1.5B | $1.5B | $2.3B |
| Current assets | $13.2B | $13.2B | $14.4B | $12.1B |
| Property, plant and equipment, net (Note 11) | $131.6B | $131.1B | $104.6B | $104.5B |
| Long-term investments (Note 13) | $21.3B | $20.7B | $16.8B | $15.9B |
| Restricted long-term investments and cash | $1.3B | $998.0M | — | — |
| Deferred amounts and other assets | $11.1B | $11.0B | $8.0B | $9.5B |
| Intangible assets, net (Note 14) | $4.0B | $4.6B | $3.5B | $4.0B |
| Goodwill (Note 15) | $35.3B | $36.6B | $31.8B | $32.4B |
| Deferred income taxes (Note 24) | $701.0M | $796.0M | $341.0M | $472.0M |
| Total assets | $218.5B | $219.0B | $180.3B | $179.6B |
| Short-term borrowings (Note 17) | $1.0B | $529.0M | $400.0M | $2.0B |
| Trade payables and accrued liabilities | $7.6B | $7.1B | $4.3B | $11.4B |
| Other current liabilities | $6.2B | $7.2B | $5.7B | — |
| Accounts payable to affiliates | $38.0M | $22.0M | $26.0M | $105.0M |
| Interest payable | $1.2B | $1.2B | $958.0M | $763.0M |
| Current portion of long-term debt (Note 17) | $5.0B | $7.7B | $6.1B | $6.0B |
| Current liabilities | $21.0B | $23.8B | $17.4B | $20.3B |
| Long-term debt (Note 17) | $99.0B | $93.4B | $74.7B | $72.9B |
| Other long-term liabilities | $12.3B | $13.3B | $8.7B | $9.2B |
| Deferred income taxes (Note 24) | $20.3B | $19.6B | $15.0B | $13.8B |
| Liabilities | $152.6B | $150.1B | $115.8B | $116.2B |
| Redeemable noncontrolling interest (Note 19) | $736.0M | — | — | — |
| Preference shares | 6.8B | 6.8B | 6.8B | 6.8B |
| Common shares (2,182 and 2,178 outstanding at December 31, 2025 and 2024, respectively) | 71.9B | 71.7B | 69.2B | 64.8B |
| Additional paid-in capital | $242.0M | $275.0M | $268.0M | $275.0M |
| Deficit | ($21.3B) | ($20.0B) | ($17.1B) | ($15.5B) |
| Accumulated other comprehensive income (Note 22) | $4.7B | $7.1B | $2.3B | $3.5B |
| Total Enbridge Inc. shareholders’ equity | $62.3B | $65.9B | $61.5B | $59.9B |
| Noncontrolling interests (Note 19) | $2.9B | $3.0B | $3.0B | $3.5B |
| Equity | $65.2B | $68.9B | $64.5B | $63.4B |
| Total liabilities and equity | $218.5B | $219.0B | $180.3B | $179.6B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $2.0B | $1.6B | $1.4B | $1.2B |
| Restricted cash | $58.0M | $186.0M | $103.0M | $83.0M |
| Trade receivables and unbilled revenues | $9.8B | $10.4B | $5.9B | $5.5B |
| Other current assets | $4.1B | $4.6B | $2.7B | $2.8B |
| Accounts receivable from affiliates | $94.0M | $107.0M | $84.0M | $74.0M |
| Inventory | $1.6B | $1.8B | $1.9B | $1.4B |
| Current assets | $17.7B | $18.9B | $12.1B | $11.1B |
| Property, plant and equipment, net | $137.7B | $134.4B | $130.9B | $128.2B |
| Long-term investments | $22.3B | $22.0B | $21.3B | $20.8B |
| Restricted long-term investments and cash (Note 8) | $1.5B | $1.3B | $1.2B | $1.1B |
| Deferred amounts and other assets | $11.3B | $11.0B | $10.7B | $10.4B |
| Intangible assets, net | $4.0B | $4.0B | $4.3B | $4.3B |
| Goodwill | $36.2B | $35.8B | $35.7B | $35.2B |
| Deferred income taxes | $940.0M | $851.0M | $703.0M | $545.0M |
| Total assets | $231.6B | $228.2B | $217.0B | $211.6B |
| Short-term borrowings | $1.6B | $1.5B | $1.3B | $914.0M |
| Trade payables and accrued liabilities | $10.1B | $9.8B | $6.5B | $5.8B |
| Other current liabilities | $4.9B | $5.7B | $4.2B | $3.8B |
| Accounts payable to affiliates | $51.0M | $49.0M | $22.0M | $27.0M |
| Interest payable | $1.3B | $1.2B | $1.2B | $1.2B |
| Current portion of long-term debt | $6.7B | $5.0B | $1.8B | $3.2B |
| Current liabilities | $24.6B | $23.3B | $15.0B | $14.8B |
| Long-term debt | $103.9B | $103.0B | $100.6B | $97.0B |
| Other long-term liabilities | $12.7B | $12.4B | $12.3B | $11.8B |
| Deferred income taxes | $21.7B | $21.0B | $20.2B | $19.7B |
| Liabilities | $162.8B | $159.7B | $148.2B | $143.2B |
| Redeemable noncontrolling interest | $736.0M | $736.0M | $736.0M | — |
| Preference shares | 6.8B | 6.8B | 6.8B | 6.8B |
| Common shares (2,184 and 2,182 outstanding at June 30, 2026 and December 31, 2025, respectively) | 71.9B | 71.9B | 71.8B | 71.8B |
| Additional paid-in capital | $183.0M | $168.0M | $240.0M | $226.0M |
| Deficit | ($20.3B) | ($19.6B) | ($19.1B) | ($17.7B) |
| Accumulated other comprehensive income (Note 7) | $6.7B | $5.7B | $5.4B | $4.2B |
| Total Enbridge Inc. shareholders’ equity | $65.3B | $65.0B | $65.2B | $65.4B |
| Noncontrolling interests | $2.8B | $2.8B | $2.9B | $2.9B |
| Equity | $68.1B | $67.8B | $68.1B | $68.4B |
| Total liabilities and equity | $231.6B | $228.2B | $217.0B | $211.6B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Earnings | $7.8B | $5.6B | $6.1B | $2.9B |
| Depreciation and amortization | $5.7B | $5.2B | $4.6B | $4.3B |
| Deferred income tax expense | $1.0B | $719.0M | $1.4B | $957.0M |
| Unrealized derivative fair value (gain)/loss, net | ($1.3B) | $2.1B | ($1.2B) | $1.3B |
| Income from equity investments | ($2.2B) | ($2.3B) | ($1.8B) | ($2.1B) |
| Distributions from equity investments | $2.1B | $2.1B | $2.0B | $1.8B |
| Impairment of long-lived assets | $570.0M | $190.0M | $419.0M | $541.0M |
| Gain on disposition of equity investments | $0 | $0 | $0 | ($1.1B) |
| Other | $122.0M | $218.0M | $393.0M | $37.0M |
| Changes in operating assets and liabilities | ($1.4B) | ($133.0M) | $2.3B | ($12.0M) |
| Net cash provided by operating activities | $12.3B | $12.6B | $14.2B | $11.2B |
| Capital expenditures | ($9.0B) | ($6.7B) | ($4.7B) | ($4.6B) |
| Long-term, restricted and other investments | ($2.3B) | ($3.4B) | ($1.3B) | ($1.0B) |
| Distributions from equity investments in excess of cumulative earnings | $681.0M | $785.0M | $1.2B | $763.0M |
| Additions to intangible assets | ($192.0M) | ($219.0M) | ($222.0M) | ($174.0M) |
| Acquisitions | $0 | ($13.5B) | ($954.0M) | ($828.0M) |
| Proceeds from disposition of equity investments | $349.0M | $0 | $0 | $522.0M |
| Net change in affiliate loans | $0 | $2.0M | ($27.0M) | $135.0M |
| Other | ($46.0M) | ($56.0M) | ($61.0M) | — |
| Net cash used in investing activities | ($10.5B) | ($20.4B) | ($6.0B) | ($5.3B) |
| Net change in short-term borrowings | $501.0M | $129.0M | ($1.6B) | $481.0M |
| Net change in commercial paper and credit facility draws | $1.3B | $6.5B | ($8.2B) | ($1.3B) |
| Debenture and term note issues, net of issue costs | $11.0B | $9.5B | $15.4B | $7.5B |
| Debenture and term note repayments | ($6.8B) | ($6.6B) | ($4.8B) | ($4.2B) |
| Contributions from noncontrolling interests | $10.0M | $4.0M | $11.0M | $13.0M |
| Distributions to noncontrolling interests | ($360.0M) | ($333.0M) | ($363.0M) | ($259.0M) |
| Proceeds from investment by redeemable noncontrolling interest in subsidiary, net of transaction costs | $712.0M | — | — | — |
| Contributions from redeemable noncontrolling interest | $6.0M | — | — | — |
| Distributions to redeemable noncontrolling interest | ($17.0M) | — | — | — |
| Common shares issued, net of issue costs | 28.0M | 2.5B | 4.5B | 3.0M |
| Common shares repurchased | 0 | 0 | -125.0M | -151.0M |
| Preference share dividends | ($419.0M) | ($387.0M) | ($352.0M) | ($338.0M) |
| Common share dividends | ($8.2B) | ($7.9B) | ($7.3B) | ($7.0B) |
| Net change in affiliate loans | $41.0M | $99.0M | $71.0M | — |
| Other | ($85.0M) | ($40.0M) | ($85.0M) | ($314.0M) |
| Net cash (used in)/provided by financinig activities | ($2.4B) | $3.5B | ($2.9B) | ($5.4B) |
| Effect of translation of foreign denominated cash and cash equivalents and restricted cash | ($47.0M) | $234.0M | ($216.0M) | $55.0M |
| Net change in cash and cash equivalents and restricted cash | ($680.0M) | ($4.0B) | $5.1B | $587.0M |
| Cash and cash equivalents and restricted cash at beginning of period | $2.0B | $6.0B | $907.0M | $320.0M |
| Cash and cash equivalents and restricted cash at end of period | $1.3B | — | — | — |
| Cash paid for interest, net of amount capitalized | $4.9B | $4.1B | $3.4B | $2.9B |
| Property, plant and equipment and intangible assets non-cash accruals | $1.4B | $1.3B | $813.0M | $937.0M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Earnings | $3.3B | $1.8B | $5.7B | $4.8B |
| Depreciation and amortization | $2.9B | $1.4B | $4.2B | $2.8B |
| Deferred income tax expense | $455.0M | $271.0M | $944.0M | $791.0M |
| Unrealized derivative fair value (gain)/loss, net | $377.0M | $893.0M | ($997.0M) | ($1.4B) |
| Income from equity investments | ($1.1B) | ($541.0M) | ($1.7B) | ($1.2B) |
| Distributions from equity investments | $967.0M | $462.0M | $1.5B | $1.1B |
| Impairment of long-lived assets | $0 | — | $330.0M | $330.0M |
| Other | $204.0M | ($33.0M) | ($91.0M) | ($44.0M) |
| Changes in operating assets and liabilities | ($687.0M) | ($1.9B) | ($739.0M) | ($841.0M) |
| Net cash provided by operating activities | $6.5B | $2.3B | $9.2B | $6.3B |
| Capital expenditures | ($5.4B) | ($2.4B) | ($5.9B) | ($3.6B) |
| Long-term, restricted and other investments | ($713.0M) | ($503.0M) | ($1.9B) | ($1.4B) |
| Distributions from equity investments in excess of cumulative earnings | $397.0M | $213.0M | $531.0M | $384.0M |
| Additions to intangible assets | ($135.0M) | ($76.0M) | ($215.0M) | ($124.0M) |
| Proceeds from disposition of equity investments | $0 | $0 | $349.0M | $130.0M |
| Other | ($30.0M) | ($20.0M) | ($41.0M) | ($35.0M) |
| Net cash used in investing activities | ($5.9B) | ($2.8B) | ($7.2B) | ($4.6B) |
| Net change in short-term borrowings | $539.0M | $458.0M | $745.0M | $385.0M |
| Net change in commercial paper and credit facility draws | $503.0M | ($1.7B) | $788.0M | ($497.0M) |
| Debenture and term note issues, net of issue costs | $4.7B | $4.7B | $8.3B | $6.5B |
| Debenture and term note repayments | ($796.0M) | ($67.0M) | ($6.1B) | ($4.1B) |
| Contributions from noncontrolling interests | $10.0M | $6.0M | $8.0M | $7.0M |
| Distributions to noncontrolling interests | ($180.0M) | ($82.0M) | ($276.0M) | ($195.0M) |
| Contributions from redeemable noncontrolling interest | $11.0M | $6.0M | — | — |
| Distributions to redeemable noncontrolling interest | ($35.0M) | ($17.0M) | — | — |
| Common shares issued, net of issue costs | 0 | 0 | 8.0M | 6.0M |
| Preference share dividends | ($212.0M) | ($107.0M) | ($311.0M) | ($206.0M) |
| Common share dividends | ($4.2B) | ($2.1B) | ($6.2B) | ($4.1B) |
| Net change in affiliate loans | $30.0M | $30.0M | $39.0M | $25.0M |
| Other | ($68.0M) | ($54.0M) | ($41.0M) | ($33.0M) |
| Net cash provided by/(used in) financing activities | $288.0M | $1.1B | ($2.3B) | ($2.2B) |
| Effect of translation of foreign denominated cash and cash equivalents and restricted cash | $46.0M | $22.0M | ($28.0M) | ($55.0M) |
| Net change in cash and cash equivalents and restricted cash | $892.0M | $650.0M | ($348.0M) | ($578.0M) |
| Cash and cash equivalents and restricted cash at beginning of period | $1.3B | $1.3B | $2.0B | $2.0B |
| Cash and cash equivalents and restricted cash at end of period | $2.2B | $2.0B | $1.7B | $1.4B |
Enbridge Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.